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A family has a gross monthly income of $4395. Their monthly home mortgage payment is $1896. In general,
lenders follow the "28 percent rule", meaning no more than 28 percent of your gross income should go towards
your mortgage. Is this family within the recommended guidelines or are they spending too much for their home?
Explain your answer.

Respuesta :

28% of $4395 would be closer to $1230 meaning that the family is indeed spending quite a bit more than the recommended amount on their home mortgage